Live cattle futures were stronger on Wednesday, as the feeders faded. Fat cattle settled the session 2 to 37 cents higher, leaving the Dec contract at a $1.90 loss for the week and a $6 loss from the LoC high. The front month feeder cattle futures were 12 to 82 cents in the red on the day. Nov futures were contrary to the others with a 7c gain on the day. Thursday’s cash market was shown from $182 to $184. The CME Feeder Cattle Index increased 11 cents to $251.90.
USDA saw Wholesale Boxed Beef prices lower for Wednesday. Choice was down $3.31 and Select fell 72 cents. USDA’s federally inspected cattle slaughter was estimated at 128,000 head for Tuesday. That has the week-to-date pace at 253k head – trailing LW by 2k and the same week last year by 5k head.
Oct 23 Cattle closed at $182.200, up $0.075,
Dec 23 Cattle closed at $186.025, up $0.375,
Feb 24 Cattle closed at $190.375, up $0.075,
Oct 23 Feeder Cattle closed at $247.775, down $0.825
Nov 23 Feeder Cattle closed at $250.425, up $0.075
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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